UNDERSTANDING YOUR FINANCIAL AID PRIVATE SCHOLARSHIPS
GRANTS
In addition to the academic scholarships provided by the university, SVSU offers a number of private scholarships according to major, leadership ability, extracurricular interests, athletics, etc. You apply once to be considered for all private scholarships after completing your FAFSA. Just visit svsu.edu/ scholarships. In addition, there are local and national scholarships for which you can apply (sometimes covering the full scope of tuition). Talk to your high school guidance counselor for details.
Grants are awarded for financial need and ability to benefit. There are a number of federal grants you may be eligible to receive. You must fill out the FAFSA to receive a grant. SVSU school code: 002314
RANGE: Up to $5,000 NEED TO REPAY: No
WORK-STUDY & STUDENT EMPLOYMENT HOURLY RATE: Variable
Work-Study programs and student employment (for research, tutoring, administrative support, etc.) help offset your college costs. You must fill out the FAFSA to qualify for a Work-Study program.
RANGE: Up to $13,845 a year NEED TO REPAY: No
LOANS
RANGE: Up to $5,500 or $9,500 a year NEED TO REPAY: Yes Students can take out both subsidized and unsubsidized loans. For subsidized loans, the federal government pays all interest until you are out of college. For unsubsidized loans, interest begins accruing immediately, but you do not need to make payments until after you have graduated. You must fill out the FAFSA to qualify for a loan. Parents are also eligible to apply for a Federal Direct PLUS loan to help meet their student’s costs.
CONTACT YOUR SVSU FINANCIAL AID OFFICE We’re here to help you. SVSU financial aid experts are here to walk you through every step of the process. You can ask us any question, check in on any deadline or explore different payment options. We work for you and we will make this process as smooth as possible. Schedule a 1-on-1 virtual session online at svsu.edu/cfsc.
9 svsu.edu/cfsc